Overall, the post office had operating revenue of $65.2 billion in fiscal 2012, down $500 million from the previous year. ET The answer is both yes and no. Revenues did climb to $71.1 billion from $70.6 billion in 2018, but first-class and marketing mail fell by 3.1 percent and 2.1 percent, respectively. Analysts have cheered the Postal Service’s promise in the digital age. ... Key Republicans whose rural constituents are especially reliant on the post office support the idea. Still, its parcel success hasn’t translated to profits. The U.S. Postal Service began in 2020 with a dubious track record. The management of the USPS has argued persuasively for years that is financial viability is severely damaged by payments that must be made to pension plans and retirement health plans. Australia Post boss Christine Holgate has warned losses for the company's letter business could double in the current financial year and force the postal service to … The commission might limit how high prices could go, but the cost of a first-class stamp could jump. Revenue came to $69.6 billion, down from $71.5 billion last year. Hope Yen, Associated Press. A new analysis explains just how much the USPS benefits from the subsidies it receives from the federal government. The Post Office Is on Pace for Its Worst Year since 2012 Default. The quarterly net loss shrank to $2.2 billion from $2.3 billion in the same quarter last year. This reduction allows the Postal Service to continue to reduce interest costs. Excluding losses so far this year, the USPS last had a surplus in 2006. The price of a first-class stamp, now 49 cents, is slated to increase by one penny in January because of inflation. It pleaded for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker deliveries from online shopping. Shipping and package revenue jumped 6.6 percent, compared with the same period last year. That was better than a $5.6 billion loss in the prior year but was mainly due to fluctuations in interest rates that reduced workers’ compensation expenses. Postal Service lost $8.8 billion in fiscal 2019, more than doubling its losses from the previous year. The waste, fraud, and inefficiency of DOD far exceeds the operating losses of the Post Office. The past fiscal year yielded a $1.2 billion operating profit for the U.S. Losses could top $20 billion in two years. Since then, it has lost $77.8 billion. And Congress has not given that permission and is unlikely to do so. The massive overhang of benefit costs has been of its control. The U.S. Jan 05 Michael Zimmerman’s Prentice Capital is having a strong year. WATCH: Raphael Warnock speaks on Georgia Senate runoff, Read ET First Published: Nov. 13, 2020 at 12:18 p.m. USPS Blue Collection Boxes. The agency said Friday it was in the red for 2010. U.S. That positive cash flow came despite a large reported net losses — $7.5 billion the most recent nine months, up from a net loss of $5.9 billion in the year earlier period. There have been attempts to measure how many post offices there need to be by population count. The government-run U.S. The post office lost $153 million last year and $276 million in 2018. It has 31,322 USPS-managed retail post offices. The agency is anticipating a loss of $13 billion in revenue this fiscal year due to the crisis and another $54 billion in losses over 10 years. To become financially stable, the Postal Service is also urging Congress to provide it relief from the mandate to prefund retiree health benefits. USPS said quarterly revenue rose to $17.6 billion, up $547 million. Post Office Urges Legislative Reforms to Reverse Massive Losses. Customer visits fell from 1.06 billion in 2010 to 812 million last year, down 23%. Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else. The president wants you to know that the United States Postal Service is “a loser.” “We lose $3 and $4 a package on average. 2019 - $8.8 billion loss; 2018 - $3.9 billion loss; 2017 - $2.7 billion loss; 2016 - $5.6 billion loss; 2015 - $5.1 billion loss; 2014 - $5.5 billion loss; 2013 - $5 billion loss; 2012 - $15.9 billion loss; 2011 - $5.1 billion loss; 2010 - $8.5 billion loss; 2009 - $3.8 billion loss; 2008 - $2.8 billion loss; 2007 - $5.1 billion loss The Post Office’s problems are business-wide, because its expenses keep exceeding revenues. USPS has lost $69 billion over the past 11 fiscal years—including $3.9 billion in fiscal year 2018. To some extent, the USPS has been dragged under financially in ways private sector companies would not be. Clearly, there is also a longer-term financial structure problem that has to be addressed as well. The Postal Service has now recorded its 12th straight year of net losses with the announcement of its FY 2018 financial results. Losses more than doubled at the US Postal Service in the first three months of the year to $1.3 billion. But in reality, the agency is generating billions in cash. All figures are for one fiscal year. Excluding losses so far this year, the USPS last had a surplus in 2006. More than 500 workers were dismissed. 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